Soccer Football - Newcastle United Takeover - Jesmond Dene House, Newcastle, Britain - October 7, 2021 Businesswoman Amanda Staveley after Newcastle announced takeover Action Images via Reuters/Lee Smith
LONDON (Reuters) - A Saudi-Arabian backed consortium completed its purchase of Premier League club Newcastle United on Thursday as a long-running takeover saga finally reached the conclusion the majority of the club's supporters desired.
Fourteen months after Saudi Arabia's Public Investment Fund (PIF) withdrew a 305 million pounds ($415.07 million) bid to buy the north-east club from owner Mike Ashley following the Premier League's failure to give regulatory approval, a deal was announced after a day of mounting excitement on Tyneside.
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